Deutsche Bank launches first Shanghai innovation hub
Deutsche Bank announced the launch of its first innovation hub in Shanghai called Blue Water Fintech Space this week, which will accelerate its digital offering to China-based clients and encourage partnerships across the fintech community.
The new hub will become the innovation arm of Deutsche Bank’s Corporate Bank in China, facilitating digital transformation workshops, proof of concept roadshows, acceleration and incubation of fintech projects.
The other big offering from the German bank’s “innovation-as-a-service” will be the deep-dives, looking for products of design thinking, artificial intelligence, robotic solutions, biometric technology and the Internet of Things.
“China is one of the leading countries globally fronting the digital banking era and it is a vibrant market for fintech developments and innovations,” says Deutsche Bank’s chief county officer for China, Gao Feng.
He adds: “The establishment of our Blue Water Fintech Space in Shanghai is a great endeavour, especially given the strategic importance of China to Deutsche Bank’s global footprint.”
A dedicated innovation and digital solutions team will work with the bank’s fintech customers to tap into the start-up fintech scene in China.
As the bank’s head of corporate in China, Dirk Lubig, reiterates: “We will build a platform to connect with the local fintech and the start-up community to leverage cutting-edge technologies and systematically address changing client demands.”
Some of the stand out areas, such as robotics and AI, will help to digitise Deutsche Bank’s client business models and offer “many growth opportunities in China”, says Lubig.